Next week, crude oil prices are likely to trade within a defined range, with geopolitical risks acting as a support level and demand-related concerns forming a ceiling
Crude oil prices moved higher this week, supported by escalating geopolitical tensions. The Russia-Ukraine conflict has intensified, with Ukraine using long-range missiles supplied by the U.S. and Britain to strike targets within Russian territory. In response, Russia launched an intercontinental ballistic missile for the first time since the war began, raising fears of further escalation.
Meeting Adds to Market Uncertainty The upcoming cuts in place, underscores the potential for a supply overhang in the medium term. U.S. Dollar Strength Pressures Crude Prices The strength of the U.S. dollar has added to the challenges faced by crude oil. A stronger dollar makes oil more expensive for holders of other currencies, discouraging demand. With the dollar hovering near a one-year high, its impact on oil prices has been significant, further limiting upward momentum in the market.
Oil Oil Markets Oil Supply China Oil Demand
United Kingdom Latest News, United Kingdom Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Oil Prices on Course for a Weekly Rise as Traders Refocus on Geopolitical RiskRising geopolitical tensions in the Middle East and increased Chinese crude oil import quotas have contributed to a recent increase in oil prices.
Read more »
Escalation in Ukraine War Brings Back Geopolitical Risk in OilThe sudden escalation of the Russia-Ukraine war brought the long-forgotten European geopolitical risk back, lifting ICE Brent slightly to $73 per barrel.
Read more »
Supply Risk and Soaring Demand Keep European Natural Gas Prices at 1-Year HighEuropean natural gas prices surged due to a combination of OMV's legal victory against Gazprom and colder weather increasing demand.
Read more »
New risk score identifies heart disease risk in kidney transplant patientsUsing an innovative risk score assessment score, heart researchers at Intermountain Health in Salt Lake City say they can accurately predict whether patients being assessed for kidney transplant will likely have a future major cardiac event, like a heart attack or stroke, according to a new study.
Read more »
Geopolitical Uncertainty Is Pushing Oil Prices HigherOil prices are climbing as traders are once again focused on the risk of a major escalation in the Middle East, even as fundamentals remain bearish.
Read more »
Geopolitical Risks Boost Oil Hedging to Record HighsTraders and investors traded record-high numbers of options and futures contracts in October
Read more »